Which of the following will contribute to accelerated growth for the U.S. economy?
A. A decrease in factor mobility.
B. A decrease in government involvement in copyright laws.
C. A decrease in tax credits for research and development.
D. Increased use of outsourcing for inputs and increased use of comparative advantage for trade in final goods and services.
Answer: D
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When regulating a natural monopoly, average cost pricing is usually used rather than marginal cost pricing because
A) average cost pricing allows the firm to earn a normal rate of return on investment, while marginal cost pricing leads to economic losses. B) average cost pricing is more economically efficient than marginal cost pricing. C) average cost pricing leads to lower profits than marginal cost pricing. D) average cost pricing leads to a lower market price than marginal cost pricing.
Geographic immobility in the labor force results in:
A. Homogeneous wage rates B. Homogeneous unemployment rates C. Local labor markets which reach equilibrium quickly and efficiently D. Persistent wage and unemployment differentials in different regions of the country